Ivanhoe Mines (OTCMKTS:IVPAF) Stock Price Passes Above 50-Day Moving Average – Time to Sell?

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF)’s stock price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $10.02 and traded as high as $11.73. Ivanhoe Mines shares last traded at $11.5745, with a volume of 362,861 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Scotiabank upgraded Ivanhoe Mines from a “hold” rating to an “outperform” rating in a research note on Monday, September 29th. Morgan Stanley set a $15.20 price objective on shares of Ivanhoe Mines in a research report on Monday, December 15th. TD Securities restated a “buy” rating on shares of Ivanhoe Mines in a report on Monday, September 29th. Jefferies Financial Group downgraded shares of Ivanhoe Mines from a “buy” rating to a “hold” rating in a research report on Sunday, December 7th. Finally, Citigroup reissued a “buy” rating on shares of Ivanhoe Mines in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $15.20.

Ivanhoe Mines Stock Up 1.4%

The company has a debt-to-equity ratio of 0.18, a current ratio of 4.23 and a quick ratio of 4.03. The firm’s 50 day moving average is $10.02 and its two-hundred day moving average is $9.25. The firm has a market capitalization of $16.46 billion and a P/E ratio of 52.61.

Ivanhoe Mines (OTCMKTS:IVPAF) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.04. Ivanhoe Mines had a net margin of 89.02% and a return on equity of 5.99%. The firm had revenue of $129.40 million for the quarter, compared to analyst estimates of $128.95 million.

About Ivanhoe Mines

Ivanhoe Mines is a Canada-based mineral exploration and development company focused on unlocking high-value deposits of copper, nickel, zinc, and platinum-group metals. The company pursues a two-pronged strategy of advancing large-scale mining projects through feasibility and development stages while also expanding its exploration footprint. Ivanhoe’s technical expertise spans geology, engineering, environmental management, and community relations, enabling it to secure the necessary permits and infrastructure for major mine developments.

The company’s flagship asset is the Kamoa-Kakula copper complex in the Democratic Republic of Congo (DRC), a joint venture with the government of the DRC and Zijin Mining.